Cryptocurrency firm Bakkt warns it may not be able to continue operating

Cryptocurrency platform Bakkt issued a warning today that it may not be able to continue operating. The company stated in a filing submitted to the US SEC, "We may not be able to continue as a going concern. We believe that our cash and restricted cash may not be sufficient to fund our operations for 12 months following the filing."

The company was founded by Intercontinental Exchange, which owns large derivatives exchanges and the New York Stock Exchange. Bakkt went public in 2021 and closed at $1.45 per share on Wednesday, lower than its peak of over $40 in 2021.